"Rock stardom will die because nobody will make enough money any more to be rock stars," he told The Sunday Express.

"Everybody will be jobbing musicians. It's unbelievable. The music industry has changed beyond all recognition. The music business we signed into does not exist any more.

"What is fascinating about that," he continued, "is that there was a way of making money and selling records that got happened upon in the Sixties and it worked for 30-odd years, then all of a sudden, in under a decade, it's gone, never to return.